ASHR vs. KWEB

Last updated Jun 24, 2026

ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) and KWEB (KraneShares CSI China Internet ETF) are both China Equities funds - ASHR tracks the CSI 300 Index while KWEB tracks the CSI Overseas China Internet Index. Both are passively managed. Over the past 10 years, ASHR returned 5.96%/yr vs -0.57%/yr for KWEB. A 0.59 correlation means they provide meaningful diversification when combined. ASHR charges 0.65%/yr vs 0.70%/yr for KWEB.

Performance

ASHR vs. KWEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and KraneShares CSI China Internet ETF (KWEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASHR achieves a 9.77% return, which is significantly higher than KWEB's -28.08% return. Over the past 10 years, ASHR has outperformed KWEB with an annualized return of 5.96%, while KWEB has yielded a comparatively lower -0.57% annualized return.

ASHR

• 1D: -3.32%
• 1M: 2.01%
• YTD: 9.77%
• 6M: 10.21%
• 1Y: 37.51%
• 3Y*: 12.76%
• 5Y*: -0.54%
• 10Y*: 5.96%

KWEB

• 1D: -2.24%
• 1M: -8.99%
• YTD: -28.08%
• 6M: -29.18%
• 1Y: -22.79%
• 3Y*: 0.71%
• 5Y*: -15.81%
• 10Y*: -0.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASHR vs. KWEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	9.77%	27.02%	11.95%	-12.52%	-27.52%	-1.57%	36.29%	36.50%	-28.45%	33.47%
KWEB KraneShares CSI China Internet ETF	-28.08%	23.55%	12.01%	-9.06%	-17.24%	-49.01%	58.23%	29.92%	-33.80%	69.73%

Correlation

The correlation between ASHR and KWEB is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013	0.59

The correlation between ASHR and KWEB has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.

ASHR vs. KWEB - Sectors Allocation Comparison

Sectors	ASHR	KWEB
Technology	31.1%	17.5%
Financial Services	19.1%	2.0%
Industrials	16.1%	3.3%
Basic Materials	9.4%	-
Consumer Defensive	6.7%	2.7%
Consumer Cyclical	6.4%	36.0%
Healthcare	4.4%	6.0%
Utilities	3.1%	-
Energy	2.5%	-
Communication Services	0.8%	28.4%
Real Estate	0.4%	3.9%

Return for Risk

ASHR vs. KWEB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASHR

ASHR Risk / Return Rank: 73
ASHR Sharpe Ratio Rank: 68
ASHR Sortino Ratio Rank: 66
ASHR Omega Ratio Rank: 66
ASHR Calmar Ratio Rank: 88
ASHR Martin Ratio Rank: 77

KWEB

KWEB Risk / Return Rank: 3
KWEB Sharpe Ratio Rank: 2
KWEB Sortino Ratio Rank: 3
KWEB Omega Ratio Rank: 3
KWEB Calmar Ratio Rank: 4
KWEB Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASHR vs. KWEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and KraneShares CSI China Internet ETF (KWEB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASHR	KWEB	Difference
Sharpe ratio: Return per unit of total volatility	2.11	-0.84	+2.95
Sortino ratio: Return per unit of downside risk	2.89	-1.15	+4.04
Omega ratio: Gain probability vs. loss probability	1.37	0.87	+0.50
Calmar ratio: Return relative to maximum drawdown	4.90	-0.58	+5.48
Martin ratio: Return relative to average drawdown	14.20	-1.22	+15.42

ASHR vs. KWEB - Sharpe Ratio Comparison

The current ASHR Sharpe Ratio is 2.11, which is higher than the KWEB Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of ASHR and KWEB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASHR vs. KWEB - Drawdown Comparison

The maximum ASHR drawdown since its inception was -51.30%, smaller than the maximum KWEB drawdown of -80.92%. Use the drawdown chart below to compare losses from any high point for ASHR and KWEB.

Drawdown Indicators

	ASHR	KWEB	Difference
Max Drawdown Largest peak-to-trough decline	-51.30%	-80.92%	+29.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-39.49%	+31.80%
Max Drawdown (3Y) Largest decline over 3 years	-33.12%	-39.49%	+6.37%
Max Drawdown (5Y) Largest decline over 5 years	-44.59%	-72.17%	+27.58%
Max Drawdown (10Y) Largest decline over 10 years	-51.30%	-80.92%	+29.62%
Current Drawdown Current decline from peak	-15.89%	-71.68%	+55.79%
Average Drawdown Average peak-to-trough decline	-29.13%	-35.36%	+6.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	18.70%	-16.05%

Volatility

ASHR vs. KWEB - Volatility Comparison

The current volatility for Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) is 7.31%, while KraneShares CSI China Internet ETF (KWEB) has a volatility of 8.34%. This indicates that ASHR experiences smaller price fluctuations and is considered to be less risky than KWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHR	KWEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	8.34%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	20.47%	-7.52%
Volatility (1Y) Calculated over the trailing 1-year period	17.88%	27.17%	-9.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	47.70%	-23.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.09%	40.00%	-15.91%

ASHR vs. KWEB - Expense Ratio Comparison

ASHR has a 0.65% expense ratio, which is lower than KWEB's 0.70% expense ratio.

Dividends

ASHR vs. KWEB - Dividend Comparison

ASHR's dividend yield for the trailing twelve months is around 2.10%, less than KWEB's 8.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.10%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
KWEB KraneShares CSI China Internet ETF	8.56%	6.16%	3.51%	1.71%	0.00%	7.07%	0.29%	0.08%	3.40%	0.58%	1.19%	0.46%

Frequently Asked Questions

Can I hold both ASHR and KWEB in my portfolio?

ASHR and KWEB have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASHR or KWEB?

KWEB has higher volatility (8.34%) compared to ASHR (7.31%). In terms of maximum drawdown, ASHR dropped -51.30% vs KWEB's -80.92%.

Which ETF is better, ASHR or KWEB?

On 10-year performance, ASHR leads with 5.96% vs -0.57% for KWEB. On fees, ASHR is cheaper at 0.65% per year. On volatility, ASHR has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHR or KWEB?

Over the 10-year period, ASHR has performed better with a 5.96% return vs -0.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHR or KWEB?

ASHR is cheaper with a 0.65% expense ratio, compared with 0.70% for KWEB.

Which ETF pays a higher dividend yield, ASHR or KWEB?

KWEB has the higher dividend yield at 8.56%, compared with 2.10% for ASHR.

What is the main difference between ASHR and KWEB?

ASHR tracks CSI 300 Index, while KWEB tracks CSI Overseas China Internet Index. They also come from different issuers: DWS and KraneShares. Their fees differ too: 0.65% for ASHR and 0.70% for KWEB.

Which has better risk-adjusted returns?

ASHR currently has the higher Sharpe Ratio (2.11 vs -0.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.